Guideline Value for Sri Yogeshwari Nagar I

Sri Yogeshwari Nagar I guideline value

The current guideline value of Sri Yogeshwari Nagar I is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Sri Yogeshwari Nagar I has changed

The guideline value for Sri Yogeshwari Nagar I has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft, marking a decline of 33%. However, the value significantly increased in the 2023 revision to Rs 1,200 per sq.ft, and again rose to Rs 1,300 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

From 2017 to 2023, the value rose by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value in this area is Rs 2,150 per sq.ft, indicating that Sri Yogeshwari Nagar I's 2024 figure is below the median.

• Sri Yogeshwari Nagar II: Rs 1,300 per sq.ft (2024)
• Sri Yogeswara Nagar III: Rs 1,300 per sq.ft (2024)
• S.S. Sabai Colony: Rs 1,900 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 2,700 per sq.ft (2024)
• Sudar Avenue: Rs 2,150 per sq.ft (2024)
• Sundaram Colony 1st Main Road: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Yogeshwari Nagar I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Yogeshwari Nagar I?

The Sub Registrar Office that covers Sri Yogeshwari Nagar I is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Rajakilpakkam

The guideline value is a crucial factor in property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring that the transaction is registered at a fair value.

When registering a property, buyers and sellers must consider the guideline value, as it influences the stamp duty and registration fees payable. This ensures compliance with local regulations and helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Sri Yogeshwari Nagar I?

The current guideline value of Sri Yogeshwari Nagar I is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Sri Yogeshwari Nagar I?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations in Sri Yogeshwari Nagar I?

The Selaiyur Sub Registrar Office handles property registrations in Sri Yogeshwari Nagar I, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

How is the guideline value determined for properties in Rajakilpakkam?

The guideline value is determined by the Registration Department based on various factors, including land classification and previous revisions, to ensure a fair valuation for property transactions.